Bank of South Carolina Corporation Announces Second Quarter Earnings
Bank of South Carolina Corporation (OTCQX: BKSC) reported record second-quarter earnings of $1.96 million, or $0.36 basic and $0.35 diluted earnings per share, marking an 11.54% increase from Q2 2024. The bank's six-month earnings rose 19.83% to $3.75 million compared to the same period in 2024.
Key performance metrics showed significant improvement, with net interest margin exceeding 4% for the second consecutive quarter. The bank maintained strong asset quality with low nonperforming loans, while achieving annualized returns on average assets of 1.33% and average equity of 13.73% for the first half of 2025.
Bank of South Carolina Corporation (OTCQX: BKSC) ha registrato utili record nel secondo trimestre pari a 1,96 milioni di dollari, ovvero un utile base di 0,36 dollari e diluito di 0,35 dollari per azione, segnando un aumento dell'11,54% rispetto al secondo trimestre del 2024. Gli utili del semestre sono cresciuti del 19,83%, raggiungendo 3,75 milioni di dollari rispetto allo stesso periodo del 2024.
I principali indicatori di performance hanno mostrato un miglioramento significativo, con un margine di interesse netto superiore al 4% per il secondo trimestre consecutivo. La banca ha mantenuto una solida qualit脿 degli attivi con bassi prestiti in sofferenza, ottenendo rendimenti annualizzati sugli attivi medi del 1,33% e sul patrimonio netto medio del 13,73% nella prima met脿 del 2025.
Bank of South Carolina Corporation (OTCQX: BKSC) report贸 ganancias r茅cord en el segundo trimestre de 1,96 millones de d贸lares, o ganancias b谩sicas de 0,36 d贸lares y diluidas de 0,35 d贸lares por acci贸n, lo que representa un aumento del 11,54% respecto al segundo trimestre de 2024. Las ganancias del semestre aumentaron un 19,83%, alcanzando los 3,75 millones de d贸lares en comparaci贸n con el mismo periodo de 2024.
Los principales indicadores de desempe帽o mostraron una mejora significativa, con un margen de inter茅s neto superior al 4% por segundo trimestre consecutivo. El banco mantuvo una s贸lida calidad de activos con bajos pr茅stamos morosos, logrando rendimientos anualizados sobre activos promedio del 1,33% y sobre el patrimonio promedio del 13,73% en la primera mitad de 2025.
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欤检殧 靹标臣 歆�響滊姅 韥� 臧滌劆鞚� 氤挫榾鞙茧┌, 靾滌澊鞛愲歆勳潃 霊� 攵勱赴 鞐办啀 4%毳� 雱橃棃鞀惦媹雼�. 鞚�頄夓潃 雮潃 攵�鞁� 雽�於滊 鞛愳偘 頀堨鞚� 瓴碃頃橁矊 鞙犾頄堨溂氅�, 2025雲� 靸侂皹旮� 韽夑窢 鞛愳偘 靾橃澋毳犾潃 1.33%, 韽夑窢 鞛愱赴鞛愲掣 靾橃澋毳犾潃 13.73%毳� 雼劚頄堨姷雼堧嫟.
Bank of South Carolina Corporation (OTCQX: BKSC) a annonc茅 des b茅n茅fices records au deuxi猫me trimestre de 1,96 million de dollars, soit un b茅n茅fice de base de 0,36 dollar et un b茅n茅fice dilu茅 de 0,35 dollar par action, marquant une augmentation de 11,54% par rapport au deuxi猫me trimestre 2024. Les b茅n茅fices sur six mois ont augment茅 de 19,83%, atteignant 3,75 millions de dollars par rapport 脿 la m锚me p茅riode en 2024.
Les indicateurs cl茅s de performance ont montr茅 une am茅lioration significative, avec une marge nette d'int茅r锚t d茅passant les 4% pour le deuxi猫me trimestre cons茅cutif. La banque a maintenu une forte qualit茅 d'actifs avec peu de pr锚ts non performants, tout en r茅alisant des rendements annualis茅s sur les actifs moyens de 1,33% et sur les capitaux propres moyens de 13,73% pour le premier semestre 2025.
Bank of South Carolina Corporation (OTCQX: BKSC) meldete Rekordgewinne im zweiten Quartal von 1,96 Millionen US-Dollar, beziehungsweise einen Basisgewinn von 0,36 US-Dollar und einen verw盲sserten Gewinn von 0,35 US-Dollar je Aktie, was eine Steigerung von 11,54% gegen眉ber dem zweiten Quartal 2024 bedeutet. Die Halbjahresgewinne stiegen um 19,83% auf 3,75 Millionen US-Dollar im Vergleich zum gleichen Zeitraum 2024.
Wichtige Leistungskennzahlen zeigten eine deutliche Verbesserung, wobei die Nettozinsmarge zum zweiten Mal in Folge 眉ber 4% lag. Die Bank hielt eine starke Verm枚gensqualit盲t mit niedrigen notleidenden Krediten aufrecht und erzielte annualisierte Renditen auf durchschnittliche Verm枚genswerte von 1,33% sowie auf das durchschnittliche Eigenkapital von 13,73% f眉r das erste Halbjahr 2025.
- None.
- Provision for credit losses increased to $100,000 from $50,000 in Q2 2024
- Total other expense rose to $3.66 million from $3.34 million year-over-year
- Slight decline in total assets to $572.9M from $590.6M in Q2 2024
Eugene H. Walpole, IV, President and Chief Executive Officer, stated, "We are pleased to report net income of
Selected Condensed Consolidated Financial Data (Unaudited) | |||||
For the Three Months Ended | |||||
June 30, | March 31, | December 31, | September 30, | June 30, | |
Total Interest and Fee Income | $听听听听听听 7,202,647 | $听听听听听听 6,737,106 | $听听听听听听 6,818,624 | $听听听听听听 6,848,831 | $听听听听听听 6,702,792 |
Total Interest Expense | 1,304,294 | 1,325,566 | 1,406,681 | 1,566,695 | 1,564,362 |
Net Interest Income | 5,898,353 | 5,411,540 | 5,411,943 | 5,282,136 | 5,138,430 |
Provision for Credit Losses | 100,000 | 50,000 | 25,000 | - | 50,000 |
Net Interest Income After Provision for Credit Losses | 5,798,353 | 5,361,540 | 5,386,943 | 5,282,136 | 5,088,430 |
Total Other Income | 421,104 | 480,342 | 483,085 | 485,206 | 471,075 |
Total Other Expense | 3,663,556 | 3,491,502 | 3,498,230 | 3,412,935 | 3,339,934 |
Income Before Income Tax Expense | 2,555,901 | 2,350,380 | 2,371,798 | 2,354,407 | 2,219,571 |
Income Tax Expense | 599,746 | 556,366 | 553,519 | 552,544 | 465,773 |
Net Income | $听听听听听听 1,956,155 | $听听听听听听 1,794,014 | $听听听听听听 1,818,279 | $听听听听听听 1,801,863 | $听听听听听听 1,753,798 |
Earnings Per Share - Basic | $听 听 听 听 听 听 听 听 0.36 | $听 听 听 听 听 听 听 听 0.33 | $听 听 听 听 听 听 听 听 0.33 | $听 听 听 听 听 听 听 听 0.33 | $听 听 听 听 听 听 听 听 0.32 |
Earnings Per Share - Diluted | $听 听 听 听 听 听 听 听 0.35 | $听 听 听 听 听 听 听 听 0.32 | $听 听 听 听 听 听 听 听 0.33 | $听 听 听 听 听 听 听 听 0.33 | $听 听 听 听 听 听 听 听 0.32 |
Return on Average Assets | 1.37听% | 1.28听% | 1.27听% | 1.24听% | 1.19听% |
Return on Average Equity | 13.95听% | 13.51听% | 13.69听% | 14.04听% | 14.71听% |
Common Stock Shares Outstanding | 5,422,475 | 5,429,005 | 5,432,762 | 5,445,519 | 5,457,907 |
Book Value Per Share | $听 听 听 听 听 听 听 10.47 | $听 听 听 听 听 听 听 10.12 | $听 听 听 听 听 听 听 听 9.63 | $听 听 听 听 听 听 听 听 9.71 | $听 听 听 听 听 听 听 听 8.93 |
Efficiency Ratio | 57.97听% | 59.26听% | 59.34听% | 59.18听% | 59.54听% |
Net Interest Margin | 4.33听% | 4.07听% | 3.97听% | 3.82听% | 3.68听% |
% Loans Past Due > 30 Days | 0.29听% | 0.47听% | 0.25听% | 0.16听% | 0.19听% |
Allowance for Credit Losses as a % of Total Loans | 1.06听% | 1.04听% | 1.01听% | 1.04听% | 1.04听% |
Community Bank Leverage Ratio | 11.19听% | 11.17听% | 10.97听% | 10.72听% | 10.39听% |
Quarterly Averages: | |||||
Total Assets | $听听听 572,875,953 | $听听听 566,714,762 | $听听听 569,812,437 | $听听听 578,014,415 | $听听听 590,639,502 |
Total Loans | $听听听 363,065,921 | $听听听 363,853,692 | $听听听 363,015,990 | $听听听 358,623,795 | $听听听 359,514,482 |
Total Deposits | $听听听 501,217,309 | $听听听 498,326,696 | $听听听 500,693,110 | $听听听 512,024,560 | $听听听 516,221,132 |
Total Shareholders' Equity | $听听听听听 56,244,469 | $听听听听听 53,865,410 | $听听听听听 52,837,535 | $听听听听听 51,043,788 | $听听听听听 47,951,482 |
About Bank of South Carolina Corporation
The Bank of South Carolina Corporation is the holding company of The Bank of South Carolina ("The Bank"). The Bank is a
Forward-Looking-Statements
This release contains forward-looking statements that are not historical facts and that are intended to be "forward-looking statements" as that term is defined by the Private Securities Litigation Reform Act of 1995.听 These forward-looking statements may include, but are not limited to, statements about the Company's plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts and pertain to the Company's future operating results.听 When used in this release, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward-looking statements.听 Actual results may differ materially from the results discussed in these forward-looking statements, because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control.听 These include but are not limited to: the possibility of adverse economic developments that may, among other things, increase default and delinquency risks in the Company's loan portfolios; shifts in interest rates; shifts in the rate of inflation; shifts in the demand for the Company's loan and other products; unforeseen increases in costs and expenses; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment.听 Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
听
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SOURCE BANK OF SOUTH CAROLINA
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